You should sell everything, sell your house, sell your grandma hidden jewels, sell your organs and buy Bitcoin and hold it FOREVER !

Bitcoin is Anarchy, Bitcoin is Chaos.

Bitcoin is Middle Age, a decentralized world with zero innovation and no protection. You never know when Barbarians will come and burn your city to death.

Bitcoin is the seeds of Skynet, a place where you can anonymously put a bounty hunter on anybody. Proof of Death is validated by the network consensus.

Bitcoin is your new God. Build an altar. Prey hard.

Buy Bitcoin and Hold it forever. The God of Bitcoin will reward you in your after-life.

The fact that there is a strong consensus against my comment is a good sign that Bitcoin is a pyramid scam. When you cannot find new people to join the party then the party will end and it will hurt badly.

If you want to understand what a currency should be then read Hayek.

Bitcoin is a world wide web cellular automata burning real people money in order to survive.

The goal of any currency is to maintain its value constant at least on the short term for the people who are using it and Bitcoin cannot achieve this with a fixed quantity of tokens. You can call it a collectible item like stamps or trading cards or consider it as some form of cybernetic art but please don’t call it a currency!

It is also not a store of value as it doesn’t produce useful work. No work = no dividend = stay away from it!

I’m not an anticrypto, I think Bitcoin is a great experiment but a failed one and hopefully we can design a proper crypto currency.

Bitcoin is not a currency.

It’s too volatile to be used as a currency. Nobody will use it to trade if it can gain/lose 10% in just one day! And it’s not just a question of maturity, it’s a design issue. The quantity of money flowing needs to be in line with economic growth. It cannot be constant or follow a predictable function because economic growth is more complex than that. You need some form of intelligence, human or artificial to calibrate the quantity of money. You need some sort of feedback loop to offset unpredictable human behaviour storing currency. Ok central bank gurus have been screwing us but we have to admit that they have maintained inflation within boundary.

Bitcoin is not a store of value.

Like god, silver or any currency Bitcoin is not a store a value because it doesn’t pay any dividend! Don’t make that mistake. And actually it’s worse because it’s actually an asset with negative interest rate! It has a very high burning rate with miners burning millions every day just to maintain the consensus! This is pure value destruction and I’m not even speaking about the environmental cost. You have to see mining fee as a powerful gravity force, the higher Bitcoin is the stronger the force to bring it back to ground level! And ICOs are another form of burning fee. Most ICOs are scams and you will never see back the money they are burning.

So what is Bitcoin?

It looks like a scam, it smells like a scam, it’s definitively a pyramid scam. Given human appetite for gambling it could still rise much much higher at some point it will collapse with or without regulatory help. At the end Bitcoin is a great experiment but a failed experiment. Yes we need an alternative to central bank but Bitcoin is not that alternative.